Expectation gap
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Auditors' reports on financial statements & other matters.
Auditors form, and report, an audit opinion about financial statements that they audit.
The auditors do not guarantee - nor certify - the amounts in the financial statements.
The incorrect belief that they do, is sometimes known as the audit "expectation gap".
Similarly incorrect - and excessive - expectations can also arise about other assurance work undertaken by external audit specialists.
See also
- Accounts
- Assurance
- Audit
- Audit opinion
- Audit report
- Audit trail
- Auditor
- Auditors’ report
- Certificate
- Company law
- Directors report
- Directors' responsibilities statement
- Financial reporting
- Financial statements
- Gap
- Qualified audit report
- Reporting entity
- Shareholders
- True and fair view
